Equity Firm Injects Cash into Food Delivery Company

May 23 , 2020


[ssba-buttons]

Impact Angel Network, a member of RENEW, has funded the third investment in Roadrunner Technology Solutions, a partner of Deliver Addis, an online food delivery company. Deliver Addis, which has been operational since 2015, has focused on online food delivery but dove into the online marketplace business as of April as a response to the increased demand caused by the Novel Coronavirus (COVID-19) pandemic. It enables consumers to shop for groceries and other essential goods online. Since last month, the company’s daily deliveries have grown by 630pc. Roadrunner and Deliver Addis’s platform is designed by Feleg Tsegaye, the founder of the companies. Deliver Addis now provides food from over 100 restaurants, alongside groceries, flowers and other consumer products. The third investment in Roadrunner and Deliver Addis will increase the companies’ capacities, enable them to reduce prices and increase efficiency to expand its market share and offer new products and services to the market, according to a statement from RENEW.


Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...